Jun162014

The U.S. Treasury reported a $130 billion deficit for May. Business inventories increased 0.6% in April. Retail sales increase 0.3% in May. The producer price index for total final demand fell 0.2% in May. Initial jobless claims rose 4,000 to 317,000 for the week ended 6/7.

• The U.S. Treasury reported a $130 billion deficit for May. Tax receipts continue to rise as defense spending falls.

• The producer price index for total final demand fell 0.2% in May. Excluding food & energy, PPI fell 0.1%, and excluding food, energy & trade remained unchanged. PPI is up 2.0% from a year ago, and excluding food & energy is also up 2.0%.